Raymond James Downgrades Halliburton (NYSE:HAL) to Market Perform

Halliburton (NYSE:HAL) was downgraded by Raymond James from a “strong-buy” rating to a “market perform” rating in a report issued on Monday, Marketbeat reports.

HAL has been the subject of a number of other reports. Wells Fargo & Company reduced their target price on shares of Halliburton from $39.00 to $34.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Barclays reiterated an “equal weight” rating and set a $33.00 price objective (down from $43.00) on shares of Halliburton in a report on Wednesday, December 18th. Piper Sandler initiated coverage on Halliburton in a research note on Thursday, December 19th. They issued an “overweight” rating and a $36.00 target price on the stock. Bank of America reduced their price target on Halliburton from $40.00 to $38.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Finally, Benchmark reiterated a “buy” rating and issued a $40.00 price objective on shares of Halliburton in a report on Friday, November 8th. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Halliburton currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.95.

Halliburton Trading Up 0.1 %

NYSE HAL opened at $27.70 on Monday. Halliburton has a one year low of $25.51 and a one year high of $41.56. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.21 and a quick ratio of 1.62. The firm has a market cap of $24.33 billion, a P/E ratio of 9.65, a P/E/G ratio of 3.55 and a beta of 1.91. The stock’s 50-day moving average is $29.02 and its 200-day moving average is $30.43.

Halliburton (NYSE:HAL) last announced its earnings results on Thursday, November 7th. The oilfield services company reported $0.73 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.02). The company had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.83 billion. Halliburton had a return on equity of 28.33% and a net margin of 11.04%. The business’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter last year, the business posted $0.79 earnings per share. Sell-side analysts anticipate that Halliburton will post 3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Halliburton

Several institutional investors and hedge funds have recently modified their holdings of HAL. MidWestOne Financial Group Inc. boosted its holdings in shares of Halliburton by 4.4% during the 3rd quarter. MidWestOne Financial Group Inc. now owns 8,610 shares of the oilfield services company’s stock worth $250,000 after buying an additional 359 shares during the period. Public Sector Pension Investment Board boosted its holdings in shares of Halliburton by 0.3% during the third quarter. Public Sector Pension Investment Board now owns 154,210 shares of the oilfield services company’s stock worth $4,480,000 after acquiring an additional 390 shares during the period. Brown Brothers Harriman & Co. grew its position in shares of Halliburton by 28.8% in the third quarter. Brown Brothers Harriman & Co. now owns 1,759 shares of the oilfield services company’s stock valued at $51,000 after purchasing an additional 393 shares during the last quarter. Northwest Bank & Trust Co increased its stake in shares of Halliburton by 3.2% during the third quarter. Northwest Bank & Trust Co now owns 12,979 shares of the oilfield services company’s stock worth $377,000 after purchasing an additional 397 shares during the period. Finally, Venturi Wealth Management LLC increased its stake in shares of Halliburton by 34.2% during the third quarter. Venturi Wealth Management LLC now owns 1,618 shares of the oilfield services company’s stock worth $47,000 after purchasing an additional 412 shares during the period. 85.23% of the stock is currently owned by institutional investors and hedge funds.

About Halliburton

Halliburton Company provides products and services to the energy industry worldwide. It operates through two segments, Completion and Production, and Drilling and Evaluation. The Completion and Production segment offers production enhancement services that include stimulation and sand control services; cementing services, such as well bonding and casing, and casing equipment; and completion tools that offer downhole solutions and services, including well completion products and services, intelligent well completions, and service tools, as well as liner hanger, sand control, and multilateral systems.